What went wrong in offering Texans a choice?

Starting in the 1990s, 19 states took at least some steps toward rolling back electricity regulations that had stood for six decades. The idea was sold on promises that competition would lower prices. However, electricity rates went up in every case.

In fact, while electricity prices have increased by a little more than 16 percent on average since 2002 in states that are still regulated, they


The fiasco California suffered was so bad that it suspended much of its deregulation in 2001. Virginia re-regulated its market earlier this year. Illinois added new regulations after the state attorney general in March accused big suppliers of manipulating the market.

In Texas, the state